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Post# of 797368
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Re: JOoa0ky post# 777539

Tuesday, 12/12/2023 11:17:25 AM

Tuesday, December 12, 2023 11:17:25 AM

Post# of 797368

The order of the restructuring is important. The first thing that has to happen before anything else is to take care of the seniors.... Result: Massive commons dilution; JPS remains intact.



According to Calabria's book, Mnuchin asked for a simultaneous conversion of SPS and JPS to legacy commons (with equal haircut). That means JPS would not remain intact.
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